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Business, 04.11.2019 22:31 g0606997

Rocky and charlie form rc partnership as equal partners. rocky contributes $100,000 into rc while charlie contributes real estate with a cost and fair market value of $100,000. during the current year, rc earned net income of $ 600,000. the partnership distributes $200,000 to each partner. the amount that rocky should report on his individual tax return a. $200,000. b. $300,000. c. $100,000. d. $0.

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Rocky and charlie form rc partnership as equal partners. rocky contributes $100,000 into rc while ch...
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